I've been a happy BECU member for over 30 years, but 3 years ago we had a lousy experience and I don't know that BECU has remedied it yet.
We live in Seward Park in SE Seattle. Came into the main BECU location with my wife to do a refinance on our home mortgage. When through the process. The rate was good. Our credit was approved. Moved on to the appraisal, which is where the wheels fell off.
We should have had plenty of loan-to-value in the home. And the home should have appraised properly (we had a prior appraisal from US Bank at $475,000 but they changed the rate on us). So in came the appraiser hired by BECU who appraised our home at $417,000, which wasn't enough or correct.
I went to a real estate agent we knew in SE Seattle who told me that the comparables the BECU appraiser from Puyallup used. Right, he was from Puyallup and wasn't really familiar with Seattle pricing. My local real estate agent gave me 5 comparables that DID equate to our home. So I went back to BECU armed with all of that information and asked that BECU either talk with the Puyallup appraiser, who had incorrectly appraised our home so he could change his appraisal OR hire a local Seattle appraiser who would actually know the SE Seattle market.
The Puyallup appraiser would not change his comps and value. BECU wouldn't hire a Seattle appraiser. It was a very sour experience.
In the end, we were recommended to Cobalt Mortgage (now called Calibre) in Kirkland, who actually worked with us, came in with a slightly lower rate and, guess what, their appraiser came in at $480,000!!
Why BECU wasn't flexible enough to understand the error of their appraiser and his unfamiliarity with the Seattle market is beyond me. But a thoroughly BAD experience.